HYBE Labels responds to reports of investigators showing up to search the company building

According to a representative of HYBE Labels on May 30 KST, the company "fully cooperated with investigators' request to provide documents related to a former employee and their suspected crimes."

Previously, the Seoul Southern District Prosecutor's Office raided the HYBE Labels building on May 29, searching for information on former employee 'A' accused of using inside information to make a profit. 'A' is currently facing accusations of making approximately 240 million KRW after buying shares in YG Plus in early 2021, shortly before HYBE began investing in the company.

Meanwhile, HYBE Labels chairman Bang Si Hyuk is also facing an investigation for fraudulent trading. He is being accused of lying to shareholders about HYBE's intentions to go public in 2019.

SEE ALSO: An alleged former employee exposes Bang Si Hyuk's political leanings, 'He pleaded with me to vote for Moon Jae In'